BAKU, Azerbaijan, May 19. Traditional housing finance isn't enough, Executive Director of the United Nations Human Settlements Program (UN-Habitat), Anacláudia Rossbach, said during a dialogue on the topic "The Global Housing Crisis: What's the Plan?" at the 13th session of the World Urban Forum (WUF13), Trend reports.
"Existing housing finance systems are clearly not working and do not meet the needs of all segments of society. However, we see countries developing creative and innovative ways to finance housing.
We have extensive experience in microfinance, where people gradually improve their housing conditions through microloans, as well as through mechanisms based on local community savings," she said.
Rossbach noted the importance of countries developing their own housing finance systems, and the mobilization of domestic financial resources is crucial.
She also said that the housing and climate agendas must work together.
"The way cities grow and expand today is directly linked to housing. This applies to housing for the poor and the rich, public housing, unauthorized housing, formal and informal housing," Rossbach added.
The third day of the 13th session of the World Urban Forum (WUF13) is underway in Baku.
On the first day, a ministerial meeting dedicated to the New Urban Agenda, a roundtable of ministers, assemblies of women and civil society, business sessions, and discussions on urban well-being were held. A ceremony for raising the flags of the United Nations and Azerbaijan also took place within the framework of the forum.
The second day of the forum drew attention with the first-ever Leaders Summit. High-level discussions on the global housing crisis, urbanization policy, and urban resilience were held that day. At the same time, the Mexico City pavilion was inaugurated within the framework of WUF13. The pavilion was presented as an important platform for expanding cooperation with the Latin American region and preparing for WUF14.
WUF13, which has attracted more than 40,000 registered participants from 182 countries, will continue until May 22. Held under the theme “Housing the world: Safe and resilient cities and communities,” the forum brings together governments, international organizations, experts, and representatives of civil society to strengthen global cooperation in the field of sustainable urban development.
